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7 Genuine Agreement
Test Description: Chapter 7 Terms
Instructions: Answer all questions to get your test result.
1) What does to rescind mean?
A
To avoid the contract
B
To give back consideration or the contract.
C
To approve the contract.
D
To cancel the contract
2) The contract contains all elements makes it:
A
ratified
B
voidable
C
void
D
valid
3) To approve the contract is what:
A
valid
B
ratified.
C
voidable
D
void
4) 1 Party can get out of a contract, so it is:
A
Ratified
B
Void
C
Voidable
D
Valid
5) Missing one of the elements makes it:
A
Voidable
B
Void
C
Ratified
D
Valid
6) Genuine Agreement is also genuine:
A
Acceptance
B
Approval
C
Aptitude
D
Assent
7) Mirror image rule means:
A
It means I look good in the mirror
B
It is the exact opposite of what I see
C
It is the same as what I see
D
It is close to what I see but slightly different
8) We also discussed ratification when discussing the:
A
Magna Carta
B
Articles of Confederation
C
Declaration of Independence
D
Constitution
9) Voidable means how many can get out of the contract
A
All the parties
B
None of the parties
C
3 of the parties
D
At least 1 of the parties
10) If it is valid, it is legal and ____:
A
approved
B
accepted
C
binding
D
ratified
*select an answer for all questions
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